Denali Advisors LLC Acquires 63,800 Shares of Movado Group, Inc. (NYSE:MOV)

Denali Advisors LLC grew its holdings in shares of Movado Group, Inc. (NYSE:MOV) by 195.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,400 shares of the company’s stock after buying an additional 63,800 shares during the quarter. Denali Advisors LLC’s holdings in Movado Group were worth $2,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MOV. SG Americas Securities LLC grew its position in shares of Movado Group by 6.1% during the 4th quarter. SG Americas Securities LLC now owns 9,469 shares of the company’s stock worth $285,000 after purchasing an additional 544 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Movado Group by 112.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock worth $32,000 after purchasing an additional 561 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Movado Group by 6.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,760 shares of the company’s stock worth $475,000 after purchasing an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Movado Group by 50.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,535 shares of the company’s stock worth $137,000 after purchasing an additional 1,529 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Movado Group by 1,246.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock worth $109,000 after purchasing an additional 3,616 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating and set a $41.00 price target on shares of Movado Group in a research report on Friday, May 31st.

Movado Group Trading Up 1.1 %

NYSE:MOV traded up $0.26 on Wednesday, hitting $24.72. The company had a trading volume of 67,534 shares, compared to its average volume of 169,903. The stock has a market capitalization of $549.03 million, a price-to-earnings ratio of 13.66 and a beta of 1.04. The firm has a 50 day moving average of $26.01 and a two-hundred day moving average of $27.32. Movado Group, Inc. has a 52 week low of $23.94 and a 52 week high of $31.44.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.13 EPS for the quarter. The business had revenue of $136.67 million during the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. As a group, equities analysts forecast that Movado Group, Inc. will post 1.25 EPS for the current year.

Movado Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend was Wednesday, June 12th. Movado Group’s payout ratio is currently 78.21%.

About Movado Group

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.